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Navanit Narayan, CEO, Haldia Petrochemicals
Kolkata-based Haldia Petrochemicals (HPL), a maker of polymers and chemicals, is making a $10 billion bet on an oil-to-chemicals (O2C) project in Tamil Nadu. The project will convert crude oil directly into chemicals to meet the growing demand for polymers in the country, CEO Navanit Narayan said. Once completed, the project will have the capacity to produce 3.5 million tons of ethylene and propylene, which are used in shopping bags, auto parts and water pipes, among other things.
HPL’s huge investment comes amid strong demand for chemicals in India. This is also due to the oversupply in the global petrochemical sector
First print: April 1, 2024 | 12:24 pm IST